According to multiple media sources Twitter has reached a deal with the representatives of Elon Musk for the tech billionaire to purchase the social media company. According to the Wall Street Journal, over the weekend the outlines of the deal were agreed and last night the final assembly of the purchase came together.
Keep in mind that Twitter is slated to report first-quarter earnings this Thursday, and originally the board was going to wait until after that earnings announcement to respond to the bid.
Something changed.
My suspicion is the financials of the Q1 earnings report will not support the $54.20 high end evaluation offer originally proposed by Musk.
If the low Q1 earnings rumors are accurate; and if Twitter had declined or fought the offer; the board would have been in the position of declining a deal that was substantially higher than the company market value, a tenuous position legally. Thus, a deal was made.
(Wall Street Journal, update) – “Twitter is in advanced discussions to sell itself to Elon Musk and could finalize a deal Monday, people familiar with the matter said, days after the billionaire unveiled his $43 billion bid for the company.
The two sides worked through the night to hash out a deal that would be valued at $54.20 a share, or $44 billion, the people said. Assuming there isn’t a last-minute snag, the deal is expected to be announced after the market closes Monday, if not sooner.
Former Obama era intelligence officials, those who helped construct, organize and assemble the public-private partnership between intelligence data networks and supported social media companies, have written a letter to congress warning that any effort to break up Big Tech (Twitter, Facebook, Instagram, Google, Microsoft, etc.) would be catastrophic for the national security system they have created.
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It didn’t matter where Jack got the coffee, how he paid for it, or didn’t, or what product advertising the customers would be exposed to while there. Few people thought about such things. Curiously, it didn’t matter what size the crowd was; in the backroom of Jack’s Coffee Shop they were able to generate massive amounts of never-ending free coffee at extreme scales.
